Friday, November 22, 2024
Home Business LIC’s Digi Term Insurance Plan: Eligibility, premium payment and benefits

LIC’s Digi Term Insurance Plan: Eligibility, premium payment and benefits

by
0 comment

Aug 13, 2024 12:10 PM IST

LIC Digi Term guarantees fixed death benefits regardless of actual experience owing to which the policy does not qualify for any discretionary benefits.

Life Insurance Corporation of India (LIC) launched a new plan called LIC’s Digi Term for online customers and LIC’s Yuva for offline customers. The plan is non-par, non-linked, life, individual and pure-risk. It provides financial protection to the insured’s family in case of his/ her unfortunate death during the policy term. Here’s a detailed look at LIC Digi Term:

An exterior view of Life Insurance Corporation of India's (LIC) headquarters, in Mumbai.(Reuters)
An exterior view of Life Insurance Corporation of India’s (LIC) headquarters, in Mumbai.(Reuters)

What is LIC Digi Term?

Read more: MSCI to increase HDFC Bank’s weightage in Global Standard Index in 2 tranches

The plan guarantees fixed death benefits regardless of actual experience owing to which the policy does not qualify for any discretionary benefits.

Key features of LIC Digi Term

1. Flexibility to choose from two Death Benefit options: Level Sum Assured and Increasing Sum Assured.

Flexibility to o Choose from Single Premium, Regular Premium and Limited Premium Payment or Choose the Policy Term/Premium Paying Term or Opt for payment of benefit in instalments.

Read more: Ola Electric Mobility soars 18% more today, rallies 58% in 3 days. Here’s why

Eligibility for LIC Digi Term

1. Minimum Age at entry : [18] years (Last Birthday)

2. Maximum Age at entry : [45] years (Last Birthday)

3. Minimum Age at Maturity : [33] years (Last Birthday)

4. Maximum age at Maturity : [75] years (Last Birthday)

What is the basic sum assured under LIC Digi Term?

Minimum Basic Sum Assured : Rs. 50,00,000/-.

Maximum Basic Sum Assured : Rs. 5,00,00,000*

Basic Sum Assured range Sum Assured Multiple

From Rs. 50,00,000/- to Rs. 75,00,000/- = Rs. 1,00,000/

Above Rs. 75,00,000/- to Rs. 1,50,00,000/- = Rs. 25,00,000/-

Above Rs. 1,50,00,000/- to Rs. 4,00,00,000/-= Rs. 50,00,000/-

Above Rs. 4,00,00,000/- = Rs. 1,00,00,000/-

Read more: Unicommerce eSolutions makes stellar market debut: Lists at 118% premium

Policy term

Policy Term: 15 to 40 years under Regular/Single/Limited Premium of 10 years

Policy Term: 20 to 40 years under Limited Premium of 15 years.

You may also like

Leave a Comment

About Us

Welcome to Janashakti.News, your trusted source for breaking news, insightful analysis, and captivating stories from around the globe. Whether you’re seeking updates on politics, technology, sports, entertainment, or beyond, we deliver timely and reliable coverage to keep you informed and engaged.

@2024 – All Right Reserved – Janashakti.news